Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3156 S Western Ave Marion, IN 46953

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    37,193 SF shopping center in Marion, Indiana for sale.

    Type:Retail
    Property size:
    37,193 SF
    Added:
    Jan 13, 2025
    Days on Market:
    458
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 3156 S Western Ave

    General Information

    Standard status
    Active
    Size
    37,193 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Adam Foret

    Listing agent Adam Foret License #IL 475160621

    Listing office CBRE - Oak Brook

    Listing date Jan 13, 2025

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Oak Brook

    Overview

    Valley View Plaza Retail Center

    Valley View Plaza is a 37,193-square-foot shopping center located in Marion, Indiana. The property is situated along Western Avenue and is shadow-anchored by Walmart. Located between Fort Wayne and Indianapolis, the property is in Grant County, which is home to Wesleyan University and Marion General Hospital. Fort Wayne International Airport is located 45 minutes northeast of the property. Valley View Plaza is 87.1% occupied and offers a value-add opportunity to increase net operating income by leasing the 4,800 square feet of vacant space. The property is leased to a mix of national tenants, including Goodwill, Dollar Tree, and CATO. Located along the Western Avenue retail corridor in Marion, the property is in the dominant retail hub of the trade area. The submarket is anchored by national retailers, including Meijer, Hobby Lobby, TJ Maxx, Lowe’s Home Improvement, and R.P. Home & Harvest.
    Location Intelligence

    Current Use by Public Records

    Cricket Wireless Authorized ... Mobile Phone Store

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • University Marketplace — 4018 S Western Ave, Marion, IN 46953

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.674228
    Latitude
    40.530387

    Nearby Similar for Sale

    • $94,900

      High Traffic Location Office Building

      Professional office building with high visibility and ample parking.
      1328 W 2ND Street, Marion, IN 46952
      View Details
    • $399,900

      Restaurant/Bar with Apartments and License

      Restaurant/bar with apartments, liquor license, and outdoor patio.
      117 S Branson Street, Marion, IN 46952
      View Details
    • $100,000

      Former Church with Finished Basement

      Open concept building, formerly a church, with full finished basement.
      324 W 10th Street, Marion, IN 46953
      View Details
    • $229,900

      Retail and Service Property

      Retail front and service area with recent upgrades.
      2021 S Western Avenue, Marion, IN 46953
      View Details
    • $100,000
      1,560 SF

      All-Brick Duplex in Marion, Indiana

      Low-maintenance, single-level duplex with two units ready for immediate cashflow.
      3625 S Landess Street, Marion, IN 46953
      View Details
    • $28,500
      1,089 SF

      Commercial Building with Restaurant Potential

      1,089 SF commercial building suitable for restaurant or bar.
      2402 S Home Avenue, Marion, IN 46953
      View Details
    • $74,900
      1,824 SF

      Marion, Indiana Duplex Investment

      Two-unit property with high visibility and central location.
      1304 W 2ND Street, Marion, IN 46952
      View Details
    • $89,900
      1,982 SF

      Marion Duplex with Central Location

      Two-unit investment property in a central, highly visible location.
      1308 W 2ND Street, Marion, IN 46952
      View Details
    • $104,000
      780 SF

      All-Brick Duplex in Marion, IN

      Low-maintenance, all-brick duplex with two units for immediate cash flow.
      3627 S Landess Street, Marion, IN 46953
      View Details
    • $55,900
      1,848 SF

      Marion Duplex Ready to Rent

      Well-maintained duplex, ready to rent, with recent updates.
      1608 S Washington Street, Marion, IN 46953-2241
      View Details
    • $62,900

      Marion Duplex For Sale

      Income-generating duplex with month-to-month tenants in Marion, Indiana.
      702 W 6th Street, Marion, IN 46953
      View Details
    • $425,000

      Marion, IN Vacant Land

      Vacant land approved for gas stations, restaurants, and hotels.
      45 S 600 E Street, Marion, IN 46953
      View Details

    FAQs

    What type of property is this?
    Shopping center - 37,193 SF shopping center in Marion, Indiana for sale.
    Where is this shopping center located?
    The property is located at 3156 S Western Ave Marion, IN.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: 87.1% Occupancy Rate with Value‑Add Opportunity: Increase NOI by leasing the remaining space.; Prime Retail Corridor Location: Situated on Western Avenue, the dominant retail hub in Marion, Indiana.; Shadow Anchored by Walmart: Benefits from high traffic.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Adam Foret
    Real Estate License ID: IL 475160621
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!